The Healthscope Limited (ASX: HSO) share price could see higher trading volume this morning after it announced it had received court approval to vote on its proposed takeover by Brookfield.
What did Healthscope announce yesterday?
Healthscope announced that the Federal Court has ordered a meeting of Healthscope shareholders to consider and vote on the previously announced scheme of arrangement regarding Brookfield’s acquisition of all Healthscope shares.
The Federal Court order follows Brookfield’s receipt of all regulatory approvals for the deal contemplated under the Implementation Deed.
If the scheme is approved by the required majority of Healthscope shareholders and all relevant conditions satisfied or waived, Healthscope shareholders will receive cash consideration of $2.465 per Healthscope share to be paid on the implementation date (currently slated for 6 June 2019).
The Healthscope Board continues to unanimously recommend that Healthscope shareholders:
- Vote in favour of the scheme
- Accept the takeover offer for all Healthscope shares owned, and
- Vote in favour of the capital return
Which S&P/ASX200 shares would I be investing in?
Given Healthscope’s shares are currently trading at $2.46 per share, I wouldn’t expect the share price to move at all provided the Brookfield deal is approved.
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Motley Fool contributor Lachlan Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.